The following table shows the data in billions of dollars for Azania's economic activities:
QUESTION 35
The following table shows the data in billions of dollars for Azania's economic activities:
On the basis of the above GDP data for Azania, calculate (a) GDP; (b) NDP; and (c) NI, using expenditure approach to deriving GDP. Click Save and Submit to save and submit.
Homework Answers
By expenditure approach :
(a) GDP= C+I+G+NX
= (219.1 + (52.1 +consumption of fixed capital) + 59.4 + (exports- imports)
= (219.1 + (52.1+11.8)+ 59.4 +(17.8-16.5)
= $343.7
(b) NDP= GDP-Consumption of fixed capital
= $(343.7 -11.8)
= $331.9
(c) National income ,NI = NDP + net foreign factor payment
= $(331.9-2.2)
= $329.7
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The following table shows the data in billions of dollars for Azania's economic activities:
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